Shares of Yunnan Copper Co, a copper company restructured from one of China's State-owned metal refineries, opened 2.31 percent lower at 24.58 yuan ($3.6) Friday after the company forecast a turnaround in annual net profit last year.
In a statement to the Shenzhen Stock Exchange, Yunnan Copper said it expected to turn from a loss of 27.9 billion yuan in 2008 to a net profit of around 360 million to 432 million yuan in 2009.
The company attributed the profit increase to government stimulus plans and rising prices of copper. Its market value amounts to 31.6 billion yuan.
